Monday, October 12, 2009

Morning Review 10/12/09

Another trading day where the market gaps up overnight and then does very little for most of the morning.

Today, of course, is the controversial Columbus Day holiday in the US. The bond market is closed, but the stock market is open. I always considered this a strange combination.

I did make a few dollars fading the high of the morning. That was about the only action to take on this low volume day.

Today we are suppose to honor a guy who didn't know where he was going, and didn't know where he had been. He was called the discoverer of American even though there were already native Americans here. Recent DNA research suggest that the eastern Native Americans were from Europe rather than Asia. Also, the Vikings are known to have been frequent visitors to America long before Columbus. So Columbus was not even the first European to America. Actually, a late comer.

Favorite Quotes

" I never blame myself when I'm not hitting. I just blame the bat and if it keeps up, I change bats. After all, if I know it isn't my fault that I'm not hitting, how can I get mad at myself?"Yogi Berra

"There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!"Reminiscences of a Stock Operator by Edwin LeFevre

"Creative persons differ from one another in a variety of ways, but in one respect they are unanimous: They all love what they do. It is not the hope of achieving fame or making money that drives them; rather, it is the opportunity to do the work that they enjoy doing."Creativity by Mihaly Csikszentmihalyi

"Be very, very careful what you put into that head, because you will never, ever get it out."Thomas Cardinal Wolsey

"I haven't trusted polls since I read that 62% of women had affairs during their lunch hour. I've never met a woman in my life who would give up lunch for sex."Erma Bombeck